Rental Costs Annual rent $ 7,710 Insurance 182 Security deposit 1,280 Buying Costs Annual mortgage payments $ 10,420 ($ 9,639 is interest) Property taxes 2,450 Insurance, maintenance 1,100 Down payment, closing costs 4,500 Growth in equity 781 Estimated annual appreciation 2,500 Assume an after-tax savings interest rate of 4 percent and a tax rate of 28 percent. Calculate the total rental cost and total buying cost.